Global power giant Siemens said on Sunday it has been awarded a turnkey contract by the Kuwait National Petroleum Co, known as KNPC, to supply high-voltage substations at refineries south of the Kuwait City.

The project, valued at KD68.2m ($240.4m), will provide reliable power supply to two of KNPC's biggest refineries, Siemens said in a statement.

The project is scheduled for completion in December 2015, it added.

Under the contract, one of the largest for the Siemens Energy Transmission business in Kuwait, Siemens will supply and install a 132kV substation at the Mina Al Ahmadi Refinery and a 300/132kV substation at the Mina Abdulla Refinery (MAB).

"Siemens is proud to be supplying the latest high-voltage technology to KNPC," said Adrian Wood, CEO of Siemens EES, the Kuwaiti unit of Siemens.

"This project will both enhance and make sure a reliable power supply is available to help Kuwait meet its future market demand for transport fuels by 2020, as it seeks to increase processing capacity at its refineries."